Debated a long time about even bothering but for the record XOMA still qualifies as a
fallen angel. Experienced, qualified posters on S.I. do not think much of this company.
However DNA, BAX and AGN do. Likewise the fact that over 20 companies that have
licensed its' cell expression technology say XOMA is doing something right.
Anyone with an interest in understanding the depth of Baxter's commitment to Neuprex
should read the XOMA 8 K and amendments to the 8 K which deal with the agreement.
Between now and December it is very likely Baxter will take a new indication into
clinic. Depending on the size of the indication the markets may learn more about the size
of potential milestones for other than small indications.
In addition Baxter is followed by many analyst. None have so far mentioned XOMA in
their reports. If Baxter actually does take Neuprex into clinic it will increase the potential
for mention of XOMA by the Baxter analyst.
Worldwide research on BPI & LBP continues.
Peptides are receiving more coverage and XOMA has said they are close to doing a deal
for Mycoprex. (They have said this for a long time). <g>
Lilly filed a foreign patent application for a combination of recombinant Protein C with
BPI. (No actual use of such a combination was carried out by Lilly, the application was
a prophetic patent)
The negative case for XOMA is well known. No product on the market. Supposed
string of FDA failures, (not exactly correct, but not worth arguing about). Market
performance has been erratic over many many years.
For those that bother to read the 8 Ks, the Baxter agreement and the "supply" agreement
are educational even given, the over 80 facts that remain confidential. The title of Article 7
is not even named but provides for right of first refusal for a product or products in the
"Field" covered by the agreement should another company try to license them, etc. This
alone could provide some excitement.
Conference call on Monday, but no expectations for any positive surprise. However
since BAX covers 100% of Neuprex expense, this quarter will be the first to reflect both
3 months of full coverage plus a full 3 months of allocation of part of over $10 million,
remain in milestone payments already received. The first quarter was allocated $2
million.
I am long XOMA. |
